Following the regulatory approval of "Fu Zhaopai" at the beginning of the yearAppcandycrushsodasagaThe management of China Pacific Insurance has welcomed a number of changes in recent days.
On April 27, China Pacific Insurance released its first-quarter results report. At the same time, a number of group management were announced.AppcandycrushsodasagaThe personnel appointment.
Continuous personnel adjustment of management
According to the first-quarter solvency report, in April 2024, Zhang Dong no longer held the position of deputy general manager, head of compliance and chief risk officer of the company after being reviewed by the Seventh Board of Directors of China Pacific Insurance and approved by the State Financial Regulatory Administration. And other positions in the company. Chen Hui was appointed interim compliance officer and chief risk officer of China Pacific (601099) property Insurance Co., Ltd.
On April 27, China Pacific Insurance announced at the third meeting of the 10th Board of Directors that Xie Weiqing and Cai Qiang were nominated as candidates for non-executive directors of the 10th Board of Directors for a term of office until the expiration of the current Board of Directors, and is eligible for re-election after the general meeting of shareholders of the company. The above proposal has yet to be considered by the shareholders' meeting, and Cai Qiang's qualifications must be approved by the regulatory body.
Prior to this, the announcement of Taibao Life Insurance revealed that Cai Qiang was no longer the general manager (CEO) of the company after being examined and approved by the forty-third meeting of the Seventh Board of Directors. After stepping down as General Manager of Pacific Life Insurance, Cai Qiang is now a director of Pacific Life Insurance, a director of Pacific Life Insurance (Hong Kong) Limited and a director of LL Global.
In addition, the announcement of the resolution of the third meeting of the 10th session of the Board of Directors of China Pacific Insurance (Group) Co., Ltd. also examined and passed the "proposal on Zhang Weidong serving as Chief risk Officer of China Pacific Insurance (Group) Co., Ltd." it was agreed to appoint Zhang Weidong and the company's chief risk officer until the expiration of the current board of directors.
At the beginning of this year, China Pacific Insurance announced that Kong Qingwei, the chairman, had resigned because of his age. At the same time, it was also announced that the State Financial Regulatory Administration has approved the qualifications of the chairman of Fufan China Pacific Insurance, and Zhao Yonggang, president of China Pacific Insurance. At this point, Fu Fan and Zhao Yonggang formed the management core of the new generation of China Pacific Insurance.
Net profit in the first quarter increased by 1% compared with the same period last year.Appcandycrushsodasaga.1%
According to the solvency report of China Pacific Insurance in the first quarter of 2024, China Pacific Insurance achieved insurance service income of 669 in the first quarter.Appcandycrushsodasaga.68 billion yuan, an increase of 2.4% over the same period last year, and a net profit of 11.759 billion yuan, an increase of 1.1% over the same period last year.
Specifically, in the first quarter, Taibao Life Insurance achieved a scale premium of 105.95 billion yuan, of which the new insurance premium reached 32.833 billion yuan, an increase of 0.4% over the same period last year; the value of new business reached 5.191 billion yuan, an increase of 30.7% over the same period last year; and insurance service revenue reached 20.859 billion yuan, down 5.1% from the same period last year.
According to different channels, in the first quarter, the scale premium of the agent channel was 84.864 billion yuan, down 1.9% from the same period last year, of which the new insurance premium was 16.124 billion yuan, an increase of 31.3% over the same period last year; the scale premium of the bancassurance channel was 12.379 billion yuan, a slight increase of 0.7% over the same period last year, of which the new insurance premium was 8.718 billion yuan, which decreased by 21.8% due to the policy of "integration of report and bank". The scale premiums of League administration channels reached 8.646 billion yuan, down 10.1% from the same period last year, of which the new scale insurance premiums for the development of professional groups were 590 million yuan, an increase of 45.5% over the same period last year.
In terms of property insurance, the original insurance premium income reached 62.491 billion yuan in the first quarter, an increase of 8.6% over the same period last year. Of this total, the original premium income of auto insurance was 26.477 billion yuan, an increase of 2.2% over the same period last year, while that of non-auto insurance was 36.014 billion yuan, an increase of 13.8% over the same period last year. The comprehensive underwriting cost rate was 98.0%, down 0.4 percentage points from the same period last year.
In terms of asset management, by the end of the first quarter, China Pacific Insurance had invested 2.3 trillion yuan in assets, an increase of 4.2 per cent over the end of last year. In the first quarter of 2024, the net investment return on investment assets was 0.8%, unchanged from the same period last year; the total investment return was 1.3%, down 0.1 percentage points from the same period last year.
